Andrew Knudtsen, Vice President

1
Affordable Housing Strategies The Role of
Commercial Linkage Impact Fees
Andrew Knudtsen, Vice President Economic
Planning Systems
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Methodology

• Conduct Needs Assessment
• Identify Gaps
• Tenure
• Income Level
• Special Needs
• Consider Potential Tools and Solutions
• Define Role for Linkages and Affordable Housing
  Impact Fee Programs

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Motivation to Address Housing Needs

• Address economic needs expand the employment
  base
• Maintain a full-service community
• Recognize the full spectrum of household income
  and balance housing opportunities
• Advance goals of helping lower-income households
• Effective communities include all segments

4
Town of Telluride
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Telluride Context

• Community values
• Environmental preservation
• Affordable housing
• Sense of community
• Study driven by economics

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Telluride Goals

• Maintain existing ratio of locally housed
  workers
• Diversify affordable housing inventory tenure,
  cost, household size

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Determination of Need

• Analysis quantified existing deficits from future
  needs
• Provided gap analysis by tenure and income

8
City of Aurora

• Population 300,000
• Households 104,000

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Aurora Context

• SF sales prices -- 150,000 to 250,000 with
  market segments on both extremes
• Original subarea 45 in pop. with 3 increase
  in housing units
• New growth commands strong prices
• Fiscal conditions driven by retail
• Economic Development a key priority

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Projected Job Growth
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Commuting
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Spectrum of Need
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Potential Solutions

• Wide Range of potential solutions
• Incentive programs, Exactions, Production,
  Partnerships, Regulatory, Financial Opportunities
• Evaluate Catch Up vs. Keep Up Strategies
• Potential Local Policy Tools include
• Commercial Linkage
• Residential Linkage
• Inclusionary Zoning

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Commercial Linkage

• Job Generation Survey based data
• Employee Generation Industry standards
• Employees Living within the region Based on
  policy goal or ES202/ commuting analysis
• Household Generation Survey based data
• Market Solutions Gap analysis with comparison
  of household income to housing costs
• Mitigation rate Policy decision that balances
  housing and ED interests

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Case Study Lower Roaring Fork, Colorado
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Fee-in-Lieu Option

• Quantifies dollar equivalent of housing
  requirement
• Determine number of employees generated
• Apply mitigation rate
• Identify the size of development (Sq. Ft.)
  required to house employees
• Estimate cost of construction
• Determine revenue from rents or sales (based on
  30 of gross income adjusted by AMI)
• Identify the funding gap